Actionable Insight

I have been in B2B sales for 17 years and it always surprises me when a word becomes part of every person’s conversation.  Even more interesting is when you search on this buzzword and find out that it was discussed 3 years ago, but recently emerged as mainstream.  I discovered this when I found the June 2011 blog article, “Actionable Insights”: Watchword or Buzzword?  This term is directly tied to Big Data or Guided Analytics.  Are these terms overused and have/will they become puffspeak as referred to in the article, What is an ‘Actionable Insight’?   This article references a situation where the data led to a powerful insight around the misconception that saving poor people would lead to overpopulation.  I was aware of big data at least 10 years ago when Google launched Google Analytics and probably sooner as a business person when discussing customer preferences and targeted or segregated marketing.  However, this concept has penetrated my current field of sales and I am concerned with its misguided use.  Therefore, I am writing this article to discuss how to use insight for selling.

I have read 3 books that speak to insight in selling.  It started with SPIN Selling by Neil Rackman, I feel like an impact statement is along the lines of an insight statement only more focused on a specific business situation and problem.  The Challenger Sale by Matt Dixon shares insight selling as a manner of creating constructive tension with your customer to bring about action.  Finally, I just finished The Ultimate Sales Machine by Chet Holmes and he writes about the  5 ways, trends or wow statements that will build rapport with a customer and lead to the action of them buying your product or service.

Now that we have established that insight statements are important in selling, what comprises an insight statement.  I attended a training where I felt they did the best job of breaking it down.  They shared that an Insight Statement = Facts + Objectives + Insight + Example + Compelling Question.  It has been my experience that most sales people consider only the fact to be the insight statement.  A fact is considered a general truth known by experience or observation, but I would take that one step further and use a conducted study.  An objective is derived from research or existing knowledge.  An insight interprets the meaning implied when facts and objectives are combined to present an opportunity to the prospect plus quantifiable example.  This is the meat of the insight statement as it pulls everything together.  Finally, a compelling question is just confirmation on whether or not the insight provide a wow statement and starts the two way conversation.

The final GOTCHA that I will write about is that an insight statement does not include a solution. If it is truly important to your prospect it can lead to your solution, but never starts with it or is mentioned during the delivery of an insight statement.  I like Chet’s idea of being prepared with 5 statements.  Most likely one will resonate with your prospect and provide next steps toward your solution.  Even if it doesn’t, if done correctly you will have separated yourself from your competition because you will have provide them an education.